Shares of LightPath Technologies Inc. jumped after the company said it expected to post record sales for the first quarter of fiscal 2000.
LightPath said sales rose on an order for collimator assembl…
Shares of LightPath Technologies Inc. jumped after the company said it expected to post record sales for the first quarter of fiscal 2000. LightPath said sales rose on an order for collimator assemblies from a telecommunications-equipment maker during the quarter ended 30 September. An increase in orders for Gradium optics products also helped sales, the company said. “The mix of new collimator assembly orders and repeat sales of Gradium optics is a healthy position to be in,” said Donald E. Lawson, president and CEO. “I am pleased with the industry acceptance of the performance enhancements that we have built into our collimator assembly. Our patented process to fuse optical fibres directly to the collimating lens has directly led to both performance and cost advantages in our first family of telecommunications component products. We will continue to leverage these capabilities toward product solutions aimed at the optical layer.” The Albequerque, New Mexico-based maker of glass products saw its shares gain 78.1 cents, or 17%, to close at US$ 5.281. In the year-earlier period, the company“s revenue was US$ 190,700. Its losses were US$ 962,100, or 31 cents a basic share.